SAP SE (US) (SAP) has released an update.
SAP SE has reported a strong start to 2024 with a 24% increase in cloud revenue and a robust current cloud backlog growth of 27%, indicating solid market demand for its Cloud ERP Suite and other cloud solutions. Despite a €2.2 billion restructuring provision leading to an IFRS operating loss, non-IFRS operating profit rose by 16%, reflecting the company’s operational efficiency and market strength. SAP’s commitment to strategic growth areas, particularly business AI, is evident as it continues its transformation program aimed at scalability and efficiency.
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